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§5-16-25. Reserve Fund

Upon the effective date of this section, the finance board shall establish and maintain a reserve fund for the purposes of offsetting unanticipated claim losses in any fiscal year. Beginning with the fiscal year 2002 plan and for each succeeding fiscal year plan, the finance board shall maintain the actuarily recommended reserve in an amount […]

§5-16-26. Quarterly Report

By October 30, 1991, and on or before January 30, April, July and October of each year thereafter, the director shall prepare for the approval of the finance board, and thereafter present to the Joint Committee on Government and Finance a quarterly report setting forth: (a) A summary of the cost to the plan of […]

§5-16-29. Limitation on Peia Participation

Notwithstanding any other provision of this article to the contrary, the director may not consider any employer eligible for participation in a plan except for the following: (1) All mandatory participants, including the State of West Virginia, its boards, agencies, commissions, departments, institutions, or spending units.

§5-16-5. Purpose, Powers and Duties of the Finance Board; Initial Financial Plan; Financial Plan for Following Year; and Annual Financial Plans

(a) The purpose of the finance board created by this article is to bring fiscal stability to the Public Employees Insurance Agency through development of annual financial plans and long-range plans designed to meet the agency's estimated total financial requirements, taking into account all revenues projected to be made available to the agency and apportioning […]

§5-16-5b. Creation of Trust for Retirees Hired on or After July 1, 2010

There is hereby created a special revenue account in the State Treasury, designated the Post-July 1, 2010, Employee Trust Fund, which shall be an interest-bearing account and may be invested in accordance with the provisions of article six, chapter twelve of this code, with the interest income a proper credit to the fund. The fund […]

§5-16-7. Authorization to Establish Group Hospital and Surgical Insurance Plan, Group Major Medical Insurance Plan, Group Prescription Drug Plan, and Group Life and Accidental Death Insurance Plan; Rules for Administration of Plans; Mandated Benefits; What Plans May Provide; Optional Plans; Separate Rating for Claims Experience Purposes

(a) The agency shall establish a group hospital and surgical insurance plan or plans, a group prescription drug insurance plan or plans, a group major medical insurance plan or plans, and a group life and accidental death insurance plan or plans for those employees herein made eligible and establish and promulgate rules for the administration […]

§5-16-7a. Additional Mandated Benefits; Third Party Reimbursement for Colorectal Cancer Examination and Laboratory Testing

(a) Notwithstanding any provision of any policy, provision, contract, plan or agreement applicable to this article, reimbursement or indemnification for colorectal cancer examinations and laboratory testing may not be denied for any nonsymptomatic person fifty years of age or older, or a symptomatic person under fifty years of age, when reimbursement or indemnity for laboratory […]

§5-16-7b. Coverage for Telehealth Services

(a) The following terms are defined: (1) “Distant site” means the telehealth site where the health care practitioner is seeing the patient at a distance or consulting with a patient’s health care practitioner.

§5-16-7d. Coverage for Patient Cost of Clinical Trials

(a) The provisions of this section and section seven-e of this article apply to the health plans regulated by this article. (b) This section does not apply to a policy, plan or contract paid for under Title XVIII of the Social Security Act. (c) A policy, plan or contract subject to this section shall provide […]

§5-16-7e. Definitions

For purposes of section seven-d of this article: (a) A "clinical trial" is a study that determines whether new drugs, treatments or medical procedures are safe and effective on humans. To determine the efficacy of experimental drugs, treatments or procedures, a study is conducted in four phases including the following: Phase II: The experimental drug […]

§5-16-7f. Prior Authorization

(a) As used in this section, the following words and phrases have the meanings given to them in this section unless the context clearly indicates otherwise: “Episode of Care” means a specific medical problem, condition, or specific illness being managed including tests, procedures and rehabilitation initially requested by health care practitioner, to be performed at, […]

§5-16-7g. Coverage for Prescription Insulin Drugs

(a) A policy, plan, or contract that is issued or renewed on or after July 1, 2020, shall provide coverage for prescription insulin drugs pursuant to this section. (b) For the purposes of this subdivision, “prescription insulin drug” means a prescription drug that contains insulin and is used to treat diabetes, and includes at least […]

§5-16-8. Conditions of Insurance Program

The insurance plans provided for in this article shall be designed by the Public Employees Insurance Agency: (1) To provide a reasonable relationship between the hospital, surgical, medical and prescription drug benefits to be included and the expected reasonable and customary hospital, surgical, medical and prescription drug expenses as established by the director to be […]

§5-16-8a. Air-Ambulance Fees

(a) The plan shall reimburse any air-ambulance provider that provides emergency air transportation or related emergency medical or treatment services to an employee or dependent of an employee covered by the plan the amount then in effect for the federal Medicare program, including any applicable Geographic Practice Cost Index. (b) Nothing in this section limits […]

§5-16-9. Authorization to Execute Contracts for Group Hospital and Surgical Insurance, Group Major Medical Insurance, Group Prescription Drug Insurance, Group Life and Accidental Death Insurance, and Other Accidental Death Insurance; Mandated Benefits; Limitations; Awarding of Contracts; Reinsurance; Certificates for Covered Employees; Discontinuance of Contracts

(a) The director is given exclusive authorization to execute such contract or contracts as are necessary to carry out the provisions of this article and to provide the plan or plans of group hospital and surgical insurance coverage, group major medical insurance coverage, group prescription drug insurance coverage, and group life and accidental death insurance […]